Page 20 - Tata Group

Tata Group drops plan to acquire stake in Vivo India over Apple's objection

Vivo had plans to sell a 51% stake in its Indian subsidiary to the Tata group. But Apple objected, as its devices are currently being produced by the Tata group in Bangalore

Tata Steel gets 5.57 bn equity shares in Singapore-based arm for $875 mn

Tata Steel on Monday said it has acquired over 557 crore equity shares in its Singapore-based arm for USD 875 million. In May, Tata Steel's board had approved infusion of funds into T Steel Holdings Pte Ltd (TSHP), by way of subscription to equity shares in one or more tranches, the company said in an exchange filing. "Further to our disclosure dated May 29, 2024... we wish to inform you that, the company has today acquired 557,32,48,408 equity shares of face value USD 0.157 each aggregating to USD 875 million (Rs 7,324.41 crore) in TSHP," Tata Steel said. Post this acquisition, TSHP will continue to be a wholly-owned subsidiary of the company, it said.

A leader is just a comma

Long-remembered leaders desist from trashing their predecessors

Tata Motors' market capitalisation crosses Rs 4 trillion for the first time

Tata Motors is currently the second-most valuable company in the salt-to-software Tata Group after Tata Consultancy Services

Tata Sons raises Tata Electronics' equity capital to Rs 10,000 crore

Tata Sons plans to establish a large-scale semiconductor fabrication plant and invest an additional Rs 27,000 crore to develop a new semiconductor assembly and testing facility in Assam

Air India unlikely to extend services of 300 non-flying employees on FTC

As many as 300 non-flying employees on fixed-term contract (FTC) at the Tata Group-owned Air India are unlikely to get their service agreements renewed after they failed to secure a place in the company in the run-up to the merger of Vistara with it, sources privy to the development have said. So far, these employees, who have been working with Air India for 10-15 years in different departments, had been getting their employment contracts renewed, they said. "But as they have not been assigned any role during the fitment exercise, which is almost complete now, their contracts are not unlikely to be renewed," a source told PTI. The number of FTC employees who may not get their contracts renewed stands around 300, said another source. Air India did not respond to a PTI's query on the issue. The airline on Wednesday announced a voluntary retirement scheme/voluntary separation scheme to its permanent employees who have been found redundant or surplus in the fitment exercise. "Being o

Air India unveils voluntary retirement, separation schemes before merger

The Tata Group-owned airline introduced voluntary retirement scheme for employees with at least five years of service, and voluntary separation scheme for those with less than five years of service

Assam govt, Tata Group ink land deal for Rs 27,000 cr semiconductor plant

The Assam Government on Tuesday signed an agreement with the Tata Group to lease over 170 acres of land to the company at Jagiroad in Morigaon district for a Rs 27,000-crore semiconductor plant. The 60-year lease agreement was finalised at the sub-registrar's office by Tata Group Board member Ranjan Bandopadhyay and Assam Industrial Development Corporation's (AIDC) manager (tech) and project in-charge Dhiraj Pegu. District Commissioner (DC) Devasish Sharma, along with Tata Group officials, including Kaninika Thakur, Ashish Mishra, and Avinash Dhabade, were present on the occasion. Speaking to reporters after signing the deal, Sharma said it was a significant day for the entire state. The facility, to be built on the site of the former Hindustan Paper Corporation Limited, is expected to create over 30,000 jobs, with the first phase set to be operational by mid-2025. The transfer of land has been completed. The team from Tata Group informed us that work will commence soon. We expres

Tata Group to retain Air India's top management post-Vistara merger

Campbell Wilson will continue as the chief executive officer, with Nipun Aggarwal and Sanjay Sharma remaining as the chief commercial and transformation officer, and chief financial officer

Tata Power steps up efforts to rejig debt, working capital measures

As of March 2024, Tata Power's consolidated debt stood at Rs 49,480 crore

Air India likely to offer voluntary separation scheme for 600 employees

Air India will introduce a Voluntary Separation Scheme (VSS) for around 600 employees whose roles may become redundant due to the merger with Vistara

Tata airlines complete harmonising operating process ahead of merger

Vistara, a joint venture between Tata Group (51 per cent) and Singapore Airlines (49 per cent), is being integrated into Air India to create a single full-service carrier

Tata Motors Group reports 2% increase in Q1 FY25 global wholesales

CV sales up, passenger vehicles dip slightly; JLR growth strong

Tata group airlines complete harmonising operating manual ahead of merger

The harmonisation of operating manuals across all Tata group airlines has been completed in the run-up to the Vistara-Air India merger and amalgamation of AIX Connect with Air India Express, a statement said on Monday. At present, the steel-to-software conglomerate fully owns three airlines -- Air India, Air India Express and AIX Connect (formerly AirAsia India) -- while it holds a majority of 51 per cent in Vistara. Singapore Airlines holds the remaining 49 per cent in Vistara. Following the completion of the harmonisation of the operating manuals, Air India said there will be two separate manuals, one for the full-service carrier Air India and the other for the low-cost cost-carrier Air India Express. Before this, all four airlines had separate operating manuals. Over the last 18 months, a team of more than 100 members have worked to align on the best practices and adopt common operating procedures, Air India noted. "This is an important milestone in the merger of the Tata Grou

Tata Consumer Products to boost growth of tea, coffee, salt businesses

Leading FMCG company Tata Consumer Products Limited (TCPL) will continue to invest in its brands and accelerate the growth momentum of the core businesses, tea, coffee and salt, the company's annual report said. In the annual report for 2023-24, TCPL said that to strengthen and accelerate core businesses, contribution of modern trade to total sales within the country was 14 per cent driven by the growth of new businesses. During 2023-24, the company continued to undertake focused brand-building efforts and launched several products. TCPL said that central to the company's growth strategy was on focusing on the core businesses of tea, coffee and salt. TCPL (formerly Tata Tea) said the company strengthened the tea and coffee businesses and also created new vectors of growth. The company was also successful in driving profitable growth in the key international markets of UK, USA and Canada. The company's focus on innovation lay in its belief that it is a strong strategic pillar and pl

A sunny farm to factory worker story at Tata Hitachi plant in Bengal

About 60 per cent of the workforce are land givers, with one member from each displaced family employed

Chinese smartphone giants seek Indian partnerships amid govt push

Vivo, Oppo, and Xiaomi are in discussions to collaborate with Indian companies for manufacturing and distributing their products in India, however, major conglomerates seem hesitant

Tata Hitachi has localisation as top priority, to invest Rs 200cr in FY25

Tata Hitachi Construction Machinery on Tuesday announced that it would invest Rs 200 crore in its two manufacturing plants to stay ahead of the curve in quality, innovation and localisation. The company, a 40:60 joint venture between Tata and Hitachi of Japan, aims at ramping up localisation levels to 70 per cent over the next 2-3 years, its Managing Director Sandeep Singh said. The company plans to produce 60-tonne dump trucks in India, leveraging technology from Hitachi Canada, primarily used for the mining industry, he said. Additionally, the company intends to introduce more models in India as part of the 'Atmanirbhar' (self-reliant) policy started long back, the official said. "We will invest a total of Rs 200 crore in our two plants in West Bengal's Kharagpur and Dharwad in Karnataka. This will help us stay at the forefront of innovation and increase self-reliance (Atamnirbharta) to 70 per cent in 2-3 years from the current 65 per cent," Singh said. The company is celebratin

Air India to set up flying institute in Maha to train 180 pilots annually

Tata Group-owned Air India on Monday said it will set up a training institute at Amravati in Maharashtra with an aim to train 180 commercial pilots annually. The DGCA-licensed Flight Training Organisation (FTO) at the Belora Airport will be the largest such institute in South Asia and become operational from the first quarter of next financial year, Air India said in a statement. According to the airline, the upcoming facility will be the first by any Indian airline in the country and will have 31 single-engine aircraft and three twin-engine aircraft for training. Air India said it has got the tender from the Maharashtra Airport Development Company (MADC) to establish and operate the facility for 30 years. "The FTO at Amravati will be a significant step towards making Indian aviation more self-reliant and offering more opportunities to the youth in India to fulfil their ambitions of flying as pilots. "The young pilots coming out of this FTO will fuel Air India's ambition of becomi

Tata Group retains top spot as India's most valuable brand at $28.6 billion

India's most valuable brands 2024: Tata Group nears $30 billion mark, Taj remains India's strongest brand, while HDFC's merger boosts brand to third position